The demand from both end user and investors precisely in the mid-range segment kept the overall Pune residential market positive during the quarter ended June, showed a report by property consultancy Colliers International.

Majority of the demand was observed in projects located in micro markets such as Wagholi, Kharadi, Undri, Pisoli, Hinjewadi, Baner and Bavdhan.

Capital values for residential properties across Pune have seen an average appreciation of 2% over the previous quarter. However, rents remained stable across all the micro-markets due to continuous addition of new units.

There were number of new launches in the first quarter of 2015 catering both premium and mid segment. The city witnessed various project completion this quarter in ocations like Baner, Balewadi, Kondhwa, Hadapsar, Undri, NIBM, Ambegaon, Wanowrie, Wakad, Pimple Nilakh, Pimple Saudagar, Pisoli and Katraj.

"The city residential market will continue to gain momentum. Micro-markets located in South East, North West and South West zones of Pune will remain active in terms of project completion and new launches. Overall, capital and rental values are expected increase in medium term. However, select micro-markets located in Central and North East will will see a stable scenario," said the report.

Asking prices for premium properties in Pimpri Chinchwad, Chakan, Kondhwa and Undri rose the highest 11-17% from a year ago, while Kothrud, Bavdhan, Deccan and Boat Club saw prices moving 4-6% higher.

During the quarter, Xander Advisors India invested around Rs 280 crore in Kumar Urban Development's residential proposed project at Karve Road in central Pune. In an another transaction, ASK Property Investment Advisors exited from investment in two residential projects in Pune namely "Serano" by Amit Enterprises at Baner and "Skyone by "Paranjape Scheme's at Model Colony.

NAVI MUMBAI: Three land tender plots of Cidco in prime locality of Ghansoli, sector 8, were on Thursday sold to the highest bidders for rates as high as Rs 1.61 lakh per sq metre, fetching the state agency a total revenue of Rs 221 crore through these sales.

NEW DELHI: The real estate market in the country's top eight cities recorded a 320% year-on-year jump in affordable home launches in the quarter to June, according to a report by property advisory Cushman & Wakefield, indicating a shift in strategy by builders to beat the slump.

NEW DELHI: The Sahara group's inability to raise Rs 10,000 crore, half in cash and half through bank guarantee, to seek release of its chief Subrata Roy and two directors from jail made the Supreme Court on Monday think aloud about the possibility of appointing a receiver for the group.